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GST hike not linked to past investment losses of GIC, Temasek: Indranee Rajah

Instead, contributions from the two bodies have enabled Singapore to keep taxes low, GST hikes at bay

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"There are very few countries in the world who have national savings that they can tap to fund their budgets, and this is especially rare for a country like Singapore which has no natural resources." - Second Minister for Finance Indranee Rajah.

Singapore

THE upcoming goods and services tax (GST) is not linked to past investment losses by Singapore sovereign wealth fund GIC and state investor Temasek Holdings, said Second Minister for Finance Indranee Rajah in Parliament on Tuesday.

In her response to Member of Parliament

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